Bank Company (Amendment) Act, 2018 passed

55
Company

MNA Business Desk: The Jatiya Sangsad passed the “Bank Company (Amendment) Bill, 2018” amid walk out of the opposition and independent lawmakers.

The act passed with a view to bringing some changes in the process of nomination to the top positions of the bank and tenure of the directors.

Under the new law, four members of a family, instead of existing two, can be inducted in the board of directors of a bank at a time.

Finance Minister Abul Maal Abdul Muhith moved the bill in the House. The bill would bring changes for fulfilling a long-run demand of the private bank owners particularly the promoters, the minister said.